Synopsis: Chiraharit Limited has received a Rs. 9.54 crore contract from ICOMM Tele Limited for the supply of pipes, fittings, and related installation services for Greenko’s integrated renewable energy project in Andhra Pradesh, with a 10-week execution timeline.
A Hyderabad-based EPC company focused on water and renewable energy infrastructure came into focus after disclosing receipt of a Rs. 9.54 crore purchase order. The order formalises a contract chain that traces back to a letter of award from Greenko AP01 IREP Private Limited issued in September 2024, with ICOMM Tele Limited acting as the principal contractor and Chiraharit as the supply and services sub-contractor. The 10-week execution window makes this among the company’s most near-term revenue recognition opportunities.
With a market capitalisation of Rs. 50.25 crore, the shares of Chiraharit Limited were last quoted at Rs. 9.17 per share, up 7.88 percent from its previous closing price of Rs. 8.5 apiece. It is trading at a P/E of 50.94.
The purchase order has been awarded by ICOMM Tele Limited for the supply of pipes and fittings as per bill of quantities, along with installation and associated services, for a project located in Andhra Pradesh. The contract value is Rs. 9,54,37,131 and is to be executed within 10 weeks of commencement.
The underlying project is Greenko AP01 IREP Private Limited’s integrated renewable energy project, a large-scale renewable development in Andhra Pradesh. Greenko, one of India’s most active renewables developers, had originally issued a letter of award to Chiraharit in September 2024 for Rs. 10.29 crore. The formal purchase order of Rs. 9.54 crore has now been released through Greenko’s principal contractor ICOMM Tele.
Benchmarked against FY25 revenues of Rs. 59.63 crore, the Rs. 9.54 crore order represents approximately 16 percent of annual revenues, a meaningful quantum for a company of this scale. The timing carries additional weight given that H1 FY26 (half year ending September 2025) was loss-making: the company reported revenues of Rs. 19.54 crore and a net loss of Rs. 1.33 crore against a net profit of Rs. 3.81 crore in H1 FY25. With a 10-week execution window, revenue from this order would likely be captured in Q4 FY26 or early FY27, providing some counterbalance to the soft first half.
Business overview
Chiraharit Limited is a Hyderabad-based EPC company incorporated in 2006 and part of the Malaxmi Group. Operating under the CHIRAMAX brand, the company focuses on turnkey EPC projects in water infrastructure and renewable energy projects.
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